Posts Tagged "paying off debts"

Lender might repossess van even after several years of non-payment

Dear Experian,

I took out a loan for a van in 2008 and lost my job shortly afterwards. I only made two payments on it. The lender never came looking to take back the vehicle. This past week I received a letter from them stating that they want the van. What are my options? Can you help?

– GLM

Recent late payments hurt credit scores the most

Dear Experian,

Why has my credit score dropped 42 points? There is a late payment on one of my cards which has since been brought current, and four of my accounts have been paid off and have a “0” balance. Why doesn’t my score increase as quickly when I pay off accounts as it does when I miss a payment?

– KRS

Accounts still show payment history and amount past due when sent to collections

Dear Experian,

I have a couple of accounts that were purchased by another lender or collection agency. I have paid them off and they do show closed, but they still show a balance. Is this negative? Should I dispute?

– RYD

Balance on collection account may not be updated until it is paid in full

Dear Experian,

I have a “charge off” credit card account on my credit report that I have been repaying for over a year. I am paying the original creditor, as they handled their own collections. Why aren’t these payments showing on my credit report?

– KML

Paying everything off may not improve scores immediately

Dear Experian,

I have paid everything off, except for one dispute. Why has my credit score not improved?

– RRD

Never send debt payments to credit reporting companies

Dear Experian,

How and where can I repay or pay on a debt that’s on my credit report?

– TCP

Paying off all debts will help scores in the long run

Dear Experian,

I was told by a realtor that paying off everything on my report will cause my score to drop. Is this true?

– STM

Is it better to pay off one credit card or reduce the balances on two?

Dear Experian,

If I am trying to raise my credit score, it is better to pay off one credit card entirely or pay down the balance of two cards without paying off either one?

– ECH

How long before paid credit cards are updated

Dear Experian,

I just paid off a lot of my credit card debt. When will I see it take effect on my credit report?

– DUK

How long before information is completely removed from your credit report

Dear Experian,

How long does it take to have something completely taken off your credit report and boost your credit once paid off?

– ADA

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